Cheryl Winokur-Munk

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1,406 appearances 26 recordings 2 series first heard Apr 2019 last heard Jun 2025

Cheryl Winokur-Munk’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Credit or Debit: Which Is Better for Your Financial Goals? · 3 Jan 2022 podcast
In fact, the experts say that really having a mix of both really is the way to go. matched
With a debit card, it can be a good idea to put things like rent or utilities and have that come right out of your bank account. matched
This way, you'll pay your bills first before you get to the idea of discretionary spending. matched
So discretionary spending are things that you don't really need. matched
They're wants versus needs. matched
So if your rent and utilities nearly deplete the account, for example, you won't be as tempted to overspend on things like maybe movies and eating out or things like that because you'll see you don't have it in the account. matched
So that's a good idea to do. matched
Well, you're not going to build credit. matched
That's one. matched
You're also probably not going to get some of the rewards that come with credit cards. matched
So like cash back, for instance. matched
There are also higher liability limits if the debit card is stolen and used fraudulently. matched
Most credit cards include zero fraud liability policies, and that's going to protect the user from paying for fraudulent purchases charged to their account. matched
Now, if someone gets your debit card or account number and uses it, how much you're going to be on the hook for is going to depend on how long it takes you to report it. matched
So if you report it stolen before the card gets used, there's not going to be any liability. matched
So zero liability for that. matched
But it could be unlimited, for example, if you report the fraud more than 60 calendar days after you get your statement. matched
So there is a little bit more risk. matched
But if you're careful and you report a stolen card or account number right away, that's the best. matched
Well, first of all, you shouldn't use credit cards to spend beyond your means. matched
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